Q&A: Home business deduction tax help please. Big Thanks!?
Question by FU HA: Home business deduction tax help please. Big Thanks!?
I don’t get it I made 30g gross/yr at my day job. I had like 4-5g taken out in taxes for the year.
I am a musician and lost 3-4g (for music business portion of rent, utilities, software, hardware, gas, etc) the same year in my home music business.
When I filed my tax return, I only got back $ 50. Normally I get nothing back but after making an amendment and adding my home music business 3-4g loss, I get $ 50 back only?
My friend has an indie home movie business and got back 5 thousand for that.
She was making 60g gross per year and got taxed about 10g total for the year.
Not sure how many deductions she claimed for her home movie business but why I get only $ 50 and she got 5 grand?
Also I did it through tax slayer and had to make the amendment through the original online place i filed, what a ripoff, it cost $ 40, so I only get $ 10 back. Was there a cheaper way to do this? Thanks.
Best answer:
Answer by jwishz
You could download a 1040X from www.irs.gov and fill out the forms the old-fashioned way. I personally use TaxSlayer because their fees are among the lowest
Know better? Leave your own answer in the comments!
